When an assignment amendment is filed, who is the secured party of record?

A secured party may assign all or part of its rights by filing an assignment financing statement using a UCC3 form. If all of the rights are assigned, the new secured party assigned those rights becomes the secured party of record. If the assignment is for part of the rights, both the previous secured party and the new secured party are on file as secured parties of record.
 

 

 

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